ITIS predicts results to beat expectations

SHARES in Altrincham-based ITIS Holdings leapt more than 10 per cent after the traffic data firm said it expects full-year results to beat market expectations. The AIM-listed company said it had seen substantial growth during the year to March 31, with a strong performance in the UK and successful growth in its international activities.

SHARES in Altrincham-based ITIS Holdings leapt more than 10 per cent after the traffic data firm said it expects full-year results to beat market expectations.

The AIM-listed company said it had seen substantial growth during the year to March 31, with a strong performance in the UK and successful growth in its international activities.

Last month, ITIS sold its stolen vehicle tracking division NavTrak to Italian business Cobra Automotive Technologies for up to £3.58m, a move which leaves the company focused entirely on traffic data collection.

It gathers information about vehicle flows to warn drivers about congestion and help highways authorities and other bodies with their planning of road improvement schemes.

The shares gained 10.64 per cent, or 6.25p, to 65p, valuing the company at almost £64m.

Broker Altium Securities is forecasting pre-tax profits of £3.8m for the year, up from its previous estimate of £3.5m.